Etrion Corp has signed a project finance agreement with Sumitomo Mitsui Trust Bank to build the 13.2MW Komatsu solar farm in Ishikawa prefecture in Japan.
Construction-related works are expected to start in February 2017, and the project is expected to be fully operational by the second quarter of 2018.
The plant will be built on 30.5 hectares of leased land.
It will supply electricity to Hokuriku Electric Power under a 20-year power purchase agreement priced at ¥32/kWh.
Etrion will own 85.1% of the project, with Hitachi High-Technologies owning the remaining 14.9%.
The total project cost will be financed approximately 83% through project debt from the bank in Japanese Yen with a tenor equal to the construction period plus 19 years of operations.
The remaining 17% will be funded pro-rata by Etrion and Hitachi High-Technologies according to the equity interests.
Image: Etrion
Etrion banks 13MW in Japan
Komatsu solar farm expected to come online in second quarter of 2018
By EBS